Calculated-industries 3416 User Guide Manuel d'utilisateur télécharger pdf (Page 12)

SER

’

UIDE

— 7

Note: Tax and Insurance entered as dollar amounts will remain

fixed, even if sales price or loan amount is changed. However, if

entered as a percentage of sales price or loan amount, these

items will automatically be re-calculated if sales price or loan

amount is changed.

Expense

— For Total Payment and Qualifying.

Enters monthly housing expense (e.g., homeowner’s

association dues, maintenance and utilities).

Tax Savings Function

s t

Estimated Income Tax Savings (Tax Svgs)

—

Calculates an estimated annual income tax savings

for a mortgage, based on entered loan variables,

including property tax, mortgage interest, and tax

bracket. You may use the default Tax Bracket %

(default: 21%), or enter a new tax bracket prior to

pressing s t t to display the estimated

annual income tax savings; the third consecutive

press of t will display the monthly tax savings;

and the fourth press will display the estimated “after-

tax”, or net mortgage payment. An entered Tax

Bracket % is stored permanently.

Note: This function is different from the mortgage interest deduction

figured in the Amortization calculation, as it also includes property

tax for a total estimated tax savings and only provides an annual

estimate, not an estimate for a specified range. (See the

key

definition in the “Mortgage Loan Keys” section for details).

Rent vs. Buy Keys

s P

Rent vs. Buy

— Calculates a comparable sales

price, loan amount, and mortgage payment versus

the cost of monthly rent. You must enter loan vari-

ables and a tax bracket via s +, then enter the

prospective buyer’s current rent and press s

P. Consecutive presses of P will calculate the

comparable sales price, loan amount, monthly loan

payment (including tax/insurance, if entered), and

estimated annual/monthly income tax savings.

s +

Tax Bracket (Tax Brkt%)

— Permanently enters a

buyer’s tax bracket for figuring Rent vs. Buy calcula-

tions or for calculating an estimated mortgage inter-

est tax deduction in the Amortization calculation.

Press ® + to display stored percentage.

(Default = 21%)

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Calculated-industries 3416 User Guide Manuel d'utilisateur Page 12

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